My grandparents paid a mere $12,000 for their house in the 1950s. My grandad passed away in the 1990s, and my grandmother remained in the house until she expired five years ago. My mom and aunt sold the property for almost $500,000! Needless to state, upticks in home prices have significantly outpaced increases in income. Many people who purchased homes fifty years ago wouldn't be able to afford those residences today.Im barely old enough to remember when real estate prices weren’t completely stupid.